Ingalls & Snyder LLC Has $12.12 Million Stake in Norfolk Southern Co. (NYSE:NSC)

Ingalls & Snyder LLC increased its stake in Norfolk Southern Co. (NYSE:NSC - Free Report) by 2.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 51,647 shares of the railroad operator's stock after buying an additional 1,148 shares during the period. Ingalls & Snyder LLC's holdings in Norfolk Southern were worth $12,122,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in NSC. Mizuho Securities USA LLC boosted its holdings in Norfolk Southern by 18,831.2% in the third quarter. Mizuho Securities USA LLC now owns 3,298,000 shares of the railroad operator's stock worth $819,553,000 after purchasing an additional 3,280,579 shares during the period. Pathway Financial Advisers LLC boosted its holdings in Norfolk Southern by 25,181.8% in the third quarter. Pathway Financial Advisers LLC now owns 893,459 shares of the railroad operator's stock worth $222,025,000 after purchasing an additional 889,925 shares during the period. FMR LLC boosted its holdings in Norfolk Southern by 48.4% in the third quarter. FMR LLC now owns 2,702,344 shares of the railroad operator's stock worth $671,532,000 after purchasing an additional 881,415 shares during the period. Hotchkis & Wiley Capital Management LLC acquired a new position in Norfolk Southern in the third quarter worth $207,830,000. Finally, Holocene Advisors LP acquired a new position in Norfolk Southern in the third quarter worth $122,798,000. Institutional investors own 75.10% of the company's stock.

Wall Street Analyst Weigh In

NSC has been the subject of a number of research reports. Bank of America lifted their price objective on shares of Norfolk Southern from $276.00 to $291.00 and gave the stock a "buy" rating in a report on Wednesday, October 23rd. Evercore ISI reduced their price target on shares of Norfolk Southern from $276.00 to $274.00 and set an "outperform" rating for the company in a report on Wednesday, October 23rd. JPMorgan Chase & Co. boosted their price target on shares of Norfolk Southern from $284.00 to $286.00 and gave the company an "overweight" rating in a report on Thursday, January 30th. Loop Capital downgraded shares of Norfolk Southern from a "buy" rating to a "hold" rating and reduced their price target for the company from $289.00 to $256.00 in a report on Monday, February 3rd. Finally, TD Cowen boosted their price target on shares of Norfolk Southern from $253.00 to $259.00 and gave the company a "hold" rating in a report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $276.11.

Insiders Place Their Bets

In other Norfolk Southern news, Director Gilbert H. Lamphere bought 607 shares of the stock in a transaction on Friday, January 31st. The shares were bought at an average price of $259.86 per share, with a total value of $157,735.02. Following the purchase, the director now directly owns 2,487 shares in the company, valued at $646,271.82. The trade was a 32.29 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Sameh Fahmy bought 350 shares of the stock in a transaction on Thursday, December 12th. The shares were acquired at an average cost of $249.37 per share, for a total transaction of $87,279.50. Following the purchase, the director now owns 10,350 shares in the company, valued at approximately $2,580,979.50. This represents a 3.50 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.19% of the company's stock.

Norfolk Southern Trading Down 0.5 %

NYSE NSC traded down $1.32 on Friday, hitting $255.90. 908,786 shares of the company were exchanged, compared to its average volume of 1,245,843. The company's 50 day moving average price is $245.35 and its 200-day moving average price is $250.44. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.90 and a quick ratio of 0.82. The firm has a market capitalization of $57.89 billion, a P/E ratio of 22.14, a price-to-earnings-growth ratio of 2.32 and a beta of 1.35. Norfolk Southern Co. has a twelve month low of $206.71 and a twelve month high of $277.60.

Norfolk Southern (NYSE:NSC - Get Free Report) last posted its quarterly earnings data on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.97 by $0.07. Norfolk Southern had a return on equity of 20.04% and a net margin of 21.63%. Analysts predict that Norfolk Southern Co. will post 13.02 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Friday, February 7th will be issued a dividend of $1.35 per share. The ex-dividend date is Friday, February 7th. This represents a $5.40 annualized dividend and a yield of 2.11%. Norfolk Southern's payout ratio is presently 46.71%.

About Norfolk Southern

Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods in the United States. The company transports agriculture, forest, and consumer products comprising soybeans, wheat, corn, fertilizers, livestock and poultry feed, food products, food oils, flour, sweeteners, ethanol, lumber and wood products, pulp board and paper products, wood fibers, wood pulp, beverages, and canned goods; chemicals consist of sulfur and related chemicals, petroleum products comprising crude oil, chlorine and bleaching compounds, plastics, rubber, industrial chemicals, chemical wastes, sand, and natural gas liquids; metals and construction materials, such as steel, aluminum products, machinery, scrap metals, cement, aggregates, minerals, clay, transportation equipment, and military-related products; and automotive, including finished motor vehicles and automotive parts, as well as coal.